TDS Return Filling

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TDS Return Filling

₹ 2000.00 3000.00

Tax deducted at source (TDS) is required to be deducted by every person who’s books gets audited u/s 44AB or a person registered as a company. TDS is deducted on various transactions of booking or payment whichever is earlier on various types of transactions like payment/booking of salary, professional fees, interest, loan repayment, works contract etc.

Every assesse whosoever deducted the TDS is required to deposit it to Government upto the 7th of following month (30th April in case of March month). Otherwise an interest of 1.5% per month will be charged.

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Who is eligible for TDS return?

Who is Eligible for TDS Return? Employers and organisations with a valid TAN are qualified for filing TDS returns. Individuals whose accounts are audited under Section 44AB, and hold an office under the government or companies are liable to file online TDS return every quarter.

Various quarterly return forms of TDS are also filled:-

Form No Transactions reported in the return Due date
Form 24Q     TDS on Salary Q1 – 31st July Q2 – 31st October Q3 – 31st January Q4 – 31st May
Form 27Q TDS on all payments made to non-residents except salaries        Q1 – 31st July Q2 – 31st October Q3 – 31st January Q4 – 31st May
Form 26QB      TDS on sale of property 30 days from the end of the month in which TDS is deducted
Form 26Q TDS other then Salary Q1 – 31st July Q2 – 31st October Q3 – 31st January Q4 – 31st May

 

Form Certificate of Frequency Due date
Form 16             TDS on salary payment                      Yearly                                  31st May
Form 16 A TDS on non-salary payments Quarterly 15 days from due date of filing return
Form 16 B TDS on sale of property Every transaction 15 days from due date of filing return
Form 16 C TDS on rent Every transaction 15 days from due date of filing return

 

 

Timelines for filling TDS return forms:-

Quarter

Quarter Period

Last Date of Filing TDS Returns

1st Quarter

From 1st April 20XX to 30th June 20XX

31st July 20XX

2nd Quarter

From 1st July 20XX to 30th September 20XX

31st October 20XX

3rd Quarter

From 1st October 20XX to 31st December 20XX

31st January 20XX

4th Quarter

From 1st January 20XX to 31st March 20XX

31st May 20XX

 

 

Due Date for Issuing TDS Certificate

As per the provisions of the Income Tax Act, TDS certificate must be issued by employers to an employee within 15 days of filing their fourth-quarter TDS returns. Hence, Form 16 must be issued within 15 days of filing the fourth quarter TDS returns. The due dates for issuing Form 16A are listed below:

  • For first-quarter of 1st April to  30th June – 15th August
  • For second-quarter of 1st July to 30th September – 15th November
  • For third-quarter of 1st October to 31st December – 15th February
  • For fourth-quarter of 1st January to 31st March – 15th June